How do you do an adjusted trial balance sheet given the following information: 1

Question

How do you do an adjusted trial balance sheet given the following information: 1-Dec Began business by depositing $7500 in a bank account in the name of the company in exchange for 750 shares of $10 per share common stock. 1-Dec Paid the rent for the current month, $650 . 1-Dec Paid the premium on a one-year insurance policy, $840 . 1-Dec Purchased Equipment for $3600 cash. 5-Dec Purchased office supplies from XYZ Company on account, $300 . 15-Dec Provided services to customers for $6000 cash. 16-Dec Provided service to customers ABC Inc. on account, $3400 . 21-Dec Received $1800 cash from ABC Inc., customer on account. 23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5 . 28-Dec Paid wages for the period December 1 through December 28, $5040 . 30-Dec Declared and paid dividend to stockholders $200 .

Explanation / Answer

Working:

Unadjusted Trial Balance December 31 Account Debit Credit Cash 4800 Accounts receivable 1600 Office supplies 300 Prepaid insurance 840 Equipment 3600 Accounts payable 130 Common stock 7500 Dividend 200 Service revenue 9400 Rent expense 650 Wages expense 5040 Totals $ 17030 17030

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